Equity Lifestyle Properties Inc. (ELS) Stock Price Down 3%
Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) dropped 3% during mid-day trading on Thursday . The stock traded as low as $79.17 and last traded at $79.17, with a volume of 178,393 shares trading hands. The stock had previously closed at $81.64.
ELS has been the topic of several research reports. Zacks Investment Research upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Thursday, April 21st. Cantor Fitzgerald restated a “hold” rating on shares of Equity Lifestyle Properties in a research note on Saturday, June 4th. Robert W. Baird restated a “hold” rating on shares of Equity Lifestyle Properties in a research note on Tuesday, April 19th. BMO Capital Markets restated a “hold” rating and set a $77.00 price objective on shares of Equity Lifestyle Properties in a research note on Thursday, July 28th. Finally, Citigroup Inc. upped their price objective on Equity Lifestyle Properties from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Equity Lifestyle Properties presently has a consensus rating of “Hold” and a consensus target price of C$71.25.
The company has a market cap of $6.80 billion and a price-to-earnings ratio of 43.00. The firm has a 50 day moving average price of $80.11 and a 200 day moving average price of $73.21.
Equity Lifestyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The firm earned $210.10 million during the quarter, compared to analyst estimates of $114.76 million. During the same period in the prior year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts predict that Equity Lifestyle Properties Inc. will post $3.30 earnings per share for the current fiscal year.
In related news, EVP Roger Maynard sold 15,000 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of C$71.64, for a total value of C$1,074,600.00. Following the completion of the transaction, the executive vice president now directly owns 155,379 shares of the company’s stock, valued at approximately C$11,131,351.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Other hedge funds recently modified their holdings of the company. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Equity Lifestyle Properties by 1.9% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 15,071 shares of the company’s stock valued at $1,006,000 after buying an additional 287 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Equity Lifestyle Properties during the fourth quarter valued at about $2,004,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Equity Lifestyle Properties by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,024,730 shares of the company’s stock valued at $68,319,000 after buying an additional 11,066 shares during the last quarter.
Equity LifeStyle Properties, Inc is a real estate investment trust. The Company is an integrated owner and operator of lifestyle-oriented properties (Properties) consisting primarily of manufactured home (MH) communities, and recreational vehicle (RV) resorts and campgrounds. The Company operates through two segments: Property Operations, and Home Sales and Rentals Operations.
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